farmer

AMN /

FOLLOWING PRESSURE from farmers the government on Monday decided to allow farmers across India to use old Rs 500 banknotes to buy seeds for rabi-seasonsowing. In a notice issued on Monday, the Ministry of Finance said farmers could now purchase seeds from government agencies for the current rabi crop with the banned Rs 500 notes.

Farmers and daily wage earners across the country were hit badly by the Centre’s move to demonetise old currency notes of Rs 500 and Rs 1,000. Prime Minister Narendra Modi had on November 8 announced this step in a late-evening address to the nation.

Full statement issued by the finance ministry on Monday:

“To further support farmers for the current Rabi crop, the Government has decided to allow farmers to purchase seeds with the old high denomination bank notes of Rs.500 from the Centres, Units or Outlets belonging to the Central or State Governments, PSUs, National or State Seeds Corporations, Central or State Agricultural Universities and the ICAR, on production of proof of identity.

In order to further support farmers for the current Rabi crop, the Government has decided to allow farmers to purchase seeds with the old high denomination bank notes of Rs.500 from the Centres, Units or Outlets belonging to the Central or State Governments, Public Sector Undertakings, National or State Seeds Corporations, Central or State Agricultural Universities and the Indian Council of Agricultural Research (ICAR), on production of proof of identity.

This is in addition to the decision taken earlier for making cash available with the farmers by permitting them to draw up to Rs.25,000 per week from their KYC compliant accounts subject to the normal loan limits and conditions apart from the other facilities announced on 17.11.2016. The Government is committed to ensure that the farmers are suitably facilitated during the Rabi season